Sheds and Rent-to-Own: The Perfect Pair
Peanut butter and jelly. Barnum and Bailey. Macaroni and cheese. Storage Sheds and Rent-to-Own. Some things just belong together!
If you are in the market for extra storage space and looking at storage sheds, you have likely noticed signs and banners promoting Rent-To-Own programs. Perhaps you wonder why this is such a popular option with shed companies. As the premier shed company in North Carolina, South Carolina, and Virginia, Liberty Sheds delivers sheds direct to thousands of customers each year with rent-to-own. We know our customers appreciate this purchasing option.
To help you make smart purchasing decisions, read on to learn more about the features and most frequently asked questions about the shed industry rent-to-own programs.
What Is Rent-To-Own?
In a nutshell, Rent-to-Own programs are just as they sound. They allow you to rent a storage shed for monthly payments. The payments are for a set period of time, and the most common terms are 36, 48 or even 60 months. With regular monthly payments, at the end of the contract, you then own that building free and clear!
These programs are not traditional financing. There is no credit check. There is no interest rate in a rent-to-own situation. You are simply renting on a month-to-month basis and you can cancel and return the shed at any time. It couldn’t be easier!
Why Choose Rent-To-Own?
You might be wondering, why choose Rent-To-Own? What’s the catch?
There’s no catch. Of course, over time, you may ultimately pay more for the shed than if you paid in full at the time or purchase. Yet, many life scenarios could use the flexibility of a rent-to-own option. Consider the following:
Storage Facility Fee Rollercoaster
Maybe you’re paying never-ending monthly fees to a storage facility. Mike, a recent shed customer, said: “I should have done this a year ago when I was looking! Now I’ve paid an entire year at a storage facility and have nothing to show for it. Had I done this a year ago, I would already be 1/3 of the way to owning it!”
You see, Mike had been worried that the monthly payments from a Rent-To-Own program cost more than if you just pay the full price upfront. However, during the time he was saving to pay the entire amount, the monthly fees from the monthly storage facility actually cost more than the Rent-To-Own monthly payments would have been.
Another customer, Alice, had moved into a smaller home six years ago and had been paying storage facility fees all that time! Alice said, “In six years I could have fully paid for TWO buildings and had all the storage I could ever need, right in my backyard!”
It may very well be time to break the cycle of paying never-ending storage facility fees. You may be ready to take advantage of a Rent-To-Own program!
Financial Challenges
Let’s face it . . . there are times in life when putting down a large payment at one time is not possible. So Rent-To-Own programs provide great choices when financial challenges hinder you from getting a shed without waiting!
In The Middle Of A House Closing
In another life situation, imagine you are purchasing a home and your mortgage company has advised you not to make any big purchases during the approval process. Rent-to-own programs are true rental programs so they do not run a credit check, and the purchase does not show up on your credit. And some companies, like we do at Liberty Sheds, let you pay off your contract within 90 days with no additional fees, making it 90 days same as cash! This can help you get a shed delivered quickly for a smooth moving experience. Just another way Rent-To-Own can help!
One of our customers, Jim, had this same experience. “I was buying a house and wanted to order my shed early so it could be there when I moved in, but I didn’t want to affect the bank account because of the home loan. So, I paid it off in the first 90 days and paid the same as cash for it. The process couldn’t have gone better.”
Temporary Storage Needs
Another life situation where rent-to-own can help is when you have temporary storage needs. Melinda is a district manager who gets reassigned every year or two. She rents her home and because she likes the convenience of having her storage on-site, she got permission from her landlord to have a storage shed at the property. Melinda values the peace of mind that at any time, and for any reason, she can call the Rent-To-Own company and turn in her shed with no additional fees.
Here's How It Works
There are slightly different ways shed companies work with Rent-To-Own programs. Here at Liberty Sheds, we work with a leader in the rent-to-own business. We are able to offer some of the best features to help our customers get into their dream sheds immediately.
Down Payment: To enroll in our Rent-to-Own program, we require a down payment equal to one month’s rental payment for units up to $10,000. For units valued between $10,000 - $15,000, we require an additional down payment equal to one month's rental payment. After this opening payment, the shed will be delivered and set up for you at your home or business.
Same-As-Cash: At Liberty, we offer “90 Days Same as Cash.” Simply make your regular monthly payments on time. Pay the cash amount of the price within 90 days and there are no extra fees.
No Credit Checks: Since this is a rental program and not a loan, there is no credit check or credit application required. Just provide a copy of your driver’s license or state-issued ID and current contact information.
Flexibility: The rental agreement runs for either 24, 36, 48, or 60 months and may be canceled at any time, for any reason, with no obligation. Simply call us and request that the building be picked up from your property. As long as you are current on your payments, you’ll owe nothing more!
No Penalty Pay-Off: If you wish to purchase the building at any time during the rental period there is no penalty. This means that you can pay off the contract by simply paying a percentage of the remaining balance on your monthly rental agreement.
Variety of Terms: While we list the standard 60-month rental agreement for prices on our website and catalogs, we also offer 24, 36, and 48-month rental terms. You also have the option of providing a larger down payment to reduce the monthly payments. Terms and payments vary on the different agreements. Our sales teams will be happy to provide you with details.
Pay Off Your Building At The Lowest Price: Always make your monthly payments on time and watch the “Pay Off My Contract” amount on each invoice. Once you can pay that amount in a single payment, call the rental company so they can process the final payoff.
Program details may vary depending on your shed provider.
Why Wait?
There is no reason to wait. With a Liberty backyard shed, you have options! Sure, you can use it for storage, but you can also turn it into a deluxe craft room or hobby hut. It can be used as a garage or workshop. Or turn it into a pool house or great garden shed. The point is that you have options when you have a shed in your backyard.
Liberty Sheds offers the biggest variety and best quality sheds in North Carolina. Design and customize your shed, or locate the closest dealer online at www.libertysheds.com. Take advantage of our rent-to-own program so you can get your shed today!
